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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader in nanotechnology, today provided a clarification of the press release dated March 27, 2008.
"We are not opening a chain of retail stores selling our product," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "We are taking greater control of our supply chain and capturing an additional existing revenue stream by opening small, regional warehouse/distribution centers, shipping our product by low cost bulk transport to these centers, then shipping individual orders within the region from these facilities by our regular carrier, DHL. Revenues we currently collect as shipping and handling charges from our customers, but currently pay to third party fulfillment centers to process orders, would become the revenue of these centers. Based on current sales volumes and growth rates, we expect them to be profitable at opening. The centers will also offer counter sales for product pick up and local walk-in customers."
Mr. Burchill continues, "In addition to capturing a significant additional revenue stream, this lowers the cost of the DHL charges to the customer, therefore reducing overall cost to customer, and reduces delivery times due to the closer proximity of the product to the customer."
Nansulate(R) is the Company's patented product line of specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, and resistance to mold growth in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes both industrial and residential coatings.
About Industrial Nanotech, Inc.
Industrial Nanotech, Inc. is quickly emerging as a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology. Additional information about the Company and its products can be found at their websites, (www.industrial-nanotech.com) and (www.nansulate.com).
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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For Industrial Nanotech, Inc., Naples
The Cervelle Group, LLC
Rob Karbowsky, 407-475-9966 ext. 227
The Cervelle Group, LLC
Tina Kuhn, 407-475-9966
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